Where are Chinese photovoltaic companies expanding their business?
Capitalising on a strong domestic R&D and supply chain system, Chinese photovoltaic enterprises are expanding their business presence in overseas markets, from Europe and the United States to ASEAN, the Middle East and other regions. Countries like Thailand, Vietnam, and Malaysia are showing great market potential.
Does China Export photovoltaic products to Southeast Asia?
For inverters, China's exports to Southeast Asia have grown slowly, with an average annual rate of around 16.6% between 2019 and 2023, though the share of the country’s total inverter exports has declined from 8.7% to 4.4%. What should be noted is that China's overall photovoltaic product exports are increasing in quantity but declining in price.
Which country imports solar cells to Southeast Asia?
Thailand, Vietnam and Malaysia have been the top three importers in the region, and have also topped the global importer list for two consecutive years. For solar cells and components, China's exports to Southeast Asia grew at an annual rate of around 12.5% between 2019 and 2023 and reached RMB24.675 billion in 2023.
Do energy storage enterprises need local production facilities?
As a result, energy storage enterprises going global often need to set up local production facilities based on a deep understanding of the local power environment, available resources, industrial policies, and other factors. In recent years, an increasing number of Chinese enterprises have been establishing plants in Southeast Asia. 2.3.4.
Are photovoltaic products subject to anti-dumping and anti-subsidy tariffs?
As a consequence of the two rounds of “anti-dumping and anti-subsidy” investigations by the United States against China, photovoltaic products directly exported to the United States from China are subject to anti-dumping and anti-subsidy tariffs as well as Section 201 and 301 tariffs.
When will US duty-free exemptions on photovoltaic products end?
It is worth noting that the US duty-free exemptions on photovoltaic products from Cambodia, Malaysia, Thailand and Vietnam will end by June 2024 and the United States is taking measures to promote the return of the manufacturing industry to safeguard its local photovoltaic enterprises.
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Photovoltaic energy storage industry goes overseas
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